- Maiden RC drilling at shallow Spencers gold discovery.
- Drilling following up strong shallow results.
- 1,200m RC drill program to test 300m-long mineralised trend.
- Spencers adds to growing pipeline of gold targets.
Accelerate Resources (ASX:AX8) has moved quickly to follow up the Spencers gold discovery with RC drilling underway within the Balagundi project near Kalgoorlie in Western Australia.
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The program comprises ~15 holes for 1,200 metres and represents the first deeper test of the Spencers discovery following Accelerate’s successful Phase 2 aircore drilling.
Spencers was announced as a new gold discovery in early May, after aircore drilling defined a coherent north-south striking mineralised trend over ~300m of strike.
Highlight AC hits included 28 metres at 1.01 grams per tonne (g/t) from 36m and 8.0m at 1.42 g/t from 28m as part of a larger intercept of 20m at 0.76 g/t Au from 16m.
Following initial 4m composite, Accelerate completed 1m sampling across selected intervals from the program. The results revealed higher-grade zones within the broader Spencers discovery, including 9m at 1.75 g/t Au from 39m, 7m at 1.85 g/t from 27m, 3m at 1.41 g/t from 12m and 2m at 1.82 g/t from 58m.
The system remains open down-dip and along strike, providing a clear RC target.
The program is designed to confirm the orientation, width and grade continuity of the mineralised structure, test below the shallow aircore intercepts, and assess the potential for higher-grade shoots within the broader gold system.
CEO, Luke Meter, said the commencement of maiden RC drilling at Spencers marks the next stage in Accelerate’s systematic exploration strategy at Balagundi, where recent work has highlighted multiple shallow gold targets across an expanding project footprint.
“Commencing maiden RC drilling at Spencers is an important step for Accelerate and the Balagundi gold project,” Mr Meter said.
“Our aircore drilling defined a coherent shallow gold system over approximately 300 metres of strike, and follow-up 1 metre sampling has now refined several higher-grade zones within the broader discovery.
“This program is designed to provide the first deeper test of Spencers, confirm the aircore results and improve our understanding of the structure and controls on mineralisation.
“Spencers is a strong example of the value being created from our Balagundi consolidation strategy. We have identified a new shallow gold discovery on recently acquired tenure and are now moving quickly to test its potential with RC drilling.”
The drilling program is expected to take approximately one week to complete.
AX8 will open Week 26 at 0.5¢. Mkt cap $6.26M.
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